GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5818. As long as the trend line support holds, uptrend could be expected to continue, and next target would be at 1.6400 area. On the downside, a clear break below the trend line will indicate that a cycle top has been formed and the rise from 1.5818 has completed, then the following downward movement could bring price back to 1.6000 zone.
EURUSD Analysis.
EURUSD continues its upward movement from 1.2995, and the rise extends to as high as 1.3270. Support is at the lower line of the price channel on 4-hour chart, as long as the channel support holds, uptrend could be expected to continue, and next target would be at 1.3300-1.3350 area.
AUDUSD Analysis.
AUDUSD’s rise from 1.0246 extends to as high as 1.0474. Further rise is still possible later today, and next target would be at 1.0550 area. Support is now at the upward trend line on 4-hour chart, only a clear break below the trend line could signal completion of the uptrend.
USDJPY Analysis.
USDJPY breaks below 80.31 previous low support, suggesting that the downtrend from 84.17 has resumed. Further decline would likely be seen, and next target would be at 79.50 area. Resistance is at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, downtrend will continue.
USDCAD Analysis.
USDCAD’s downward movement from 0.9978 extends to as low as 0.9799. Further decline would likely be seen in a couple of days, and next target would be at 0.9750 area. Resistance is now at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend will continue.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9250, and the fall extends to as low as 0.9051. Further decline would likely be seen later today, and next target would be at 0.9000. Resistance is at the downward trend line on 4-hour chart, only a clear break above the trend line could signal completion of the downtrend.
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